Who bought into the financial asset numbers, and why?

[Neighbor]

9 hours ago, FJK said:

You seem to be only concerned with calling Trump to account, and never seem to mention anyone else, willing to overlook all others..

Is there a reason for this?

FWIW, since none of these cases seemed to pop up before Trump announced his run and did immediately after, with various Federal and State prosecutors meeting with the White House before they almost simultaneously filed charges do you think there might be some purely political weaponization of  prosecutions against a political opponent going on here?

Well of course, this isn't beanbag!

BUT I also looked at Donald Trump's dealings with people going back to the Tampa condo fiasco from his The Apprentice days. I also knew of the people,  just individuals, that bought into that project based upon his name, and that they lost a lot of money as a result.  

As Nikki Haley states, chaos follows him. There is reason for that.  even he brags about having "20" lawyers  fighting lawsuits and battling IRS audits. That goes back long before his latest rounds of court cases.

This case is not the first one he has been held to account over. Looks like there will be more to come, some criminal, some civil. All interesting,- what a man can do with his father's inheritance, eh? Evidently some $413 million.

BTW I contributed financially to his 2016 presidential campaign against Hillary Rodham-Clinton. Fool me once shame on you, fool me twice shame on me, fool me a third time? No way!  Can't America do better than this? That is my question. I do pray to God it is so.

To ask the old Reagan question,  "Are you better off than you were four years ago?" Well I'll be danged, I am. How can that be?  And; what happened to my Republican Party? Where did it go?

Fortunately, my own personal hope is certain, as it is placed in Yeshua and not in any political party nor any man. So whether Trump, Biden ,or whomever God wills, I  am secure eternally if not temporally.

 

[Neighbor]

p.s. I do believe a great reveal is coming as to who bought into the fraudulent financials and why. I think there will be court cases and penalties to be paid by way more than just the immediate Trump cluster of associates.

[FJK]

6 hours ago, Neighbor said:

 Can't America do better than this? That is my question. I do pray to God it is so.

Well, we traded Trump for Biden, and you say you are doing better for it.

[Neighbor]

Just now, FJK said:

Well, we traded Trump for Biden, and you say you are doing better for it.

Yep, amazing eh?  Commercial real estate went way way up in value, commercial rents went way up too. Common stocks have gone up, and interest rates on savings have  gone from one half of one percent to just over five percent.

So yes I have to say it is so. There is opportunity that just wasn't there five years ago.

Plus with inflation rates being high social security retirement benefits went way up too!

So I'll be dang yes things are looking good. First time since, well really since 2008!

[FJK]

3 minutes ago, Neighbor said:

Plus with inflation rates being high social security retirement benefits went way up too!

Don't know about anyone else, but my social security went up less than my basic essential costs of living.

The upper ranks of the country are doing quite well under Biden, or at least seem to think they are. the middle ranks struggling to maintain their position, and the lower ranks (the lower middle and upper upper lower working class that is self sufficient but barely so) is losing ground and suffering greatly without hope for improvement anywhere in sight.

FWIW, I predict a great deal of severe social chaos coming from this quite soon, chaos that will affect all but the highest parts of the upper ranks (and, of course, those responsible for letting this happen will not realize they are the ones responsible and continue to pursue their own self interest and make it worse).

The United States has fallen and will soon cease to exist as the United States, being either broken up or absorbed into something else that will emerge in its place.

I mayb be wrong, but I'm pretty confident I'm not.  We should find out soon.

 

[Neighbor]

Hi FJK,

As for myself I am in what might be called  lower middle class, of a classless society  at the USA. I do live rather modestly, my needs are not all that great.

 I worked and worked hard very long hours until age 75, under many shifting  federal government policies. Plus I worked commercial real estate investment too, lots and lots of hours.  seemed endless at times. Now I am freed of all of that,- at age 80; but I do still have to earn income or deplete assets gained.

Fortunately the increase back to a more historic normal rate of interest on savings, plus the really great real estate market with increasing property values have meshed  just very recently to make it possible, if paying close attention, to maintain a decent living even as prices do indeed go up on most everything.

Five years ago I wasn't too sure it could ever happen again in my lifetime. Yep I am certainly doing better now than under Trump policies. Those erratic policies along with tariffs imposed were absolutely killing the commercial real estate, plus trade across the Pacific rim.

All that said I credit my Lord, and no man including myself, for  the good fortune of having been called out to my own eternal salvation  by the grace and mercy of God alone through Jesus alone as made known  via the Holy Spirit. Therein is the treasure of my life that I cherish- God's mercy on me, undeserved as it is.

[FJK]

56 minutes ago, Neighbor said:

As for myself I am in what might be called  lower middle class, of a classless society  at the USA.

That would mean you work paycheck to paycheck and if you were to is a single paycheck you would not be able to pay your bills.

That's a category that has seen greatly increasing numbers of workers over the last four years.

As far as interest rates go,  I'm finding that they do not keep up with the real cost of living inflation for the lower classes who are suffering an increasingly lower standard of living as a result of it.

Consider the situation of the working street people, both individuals and families, young and old, who used to be able to afford a place to live for themselves and their families but not live in cars, broken down RV's, tents, etc. since they can no longer afford any place to live.

FWIW, a lot of those who actually did  "learn to code" are now among them and many more will be added in the very near future.

Not something I consider being a Christian sort of thing to be encouraging, but I'm not the one with the authority to judge that so I'll just consider it my opinion only.

[Vine Abider]

19 hours ago, Neighbor said:

Perhaps, just perhaps there is a Republican with less baggage that might be better suited as a party leader and presidential candidate? 

Lord help this land's peoples, protect us from the government we might deserve. Have mercy upon us.

 

 

I just started reading this thread, but to me this seems to be the bottom-line (as it always is):  LORD HELP US!!!

While I have deemed it prudent to have extracted myself out of the political realm for the last several years (my flesh loved to wrangle about political things and get quite anxious about such affairs), I have remained privy to the overall conversation among people I know.  And accordingly, I have deemed it best to withhold most of my stinky opinions, and just instead call upon the Lord.

I voted for Trump initially, as one who was from outside the corrupted beltway.  But now, all things considered, I think it is time and prudent to move on. My sense is it will probably be neither Biden or Trump on their party's ticket.

[Neighbor]

1 minute ago, Vine Abider said:

LORD HELP US!!!

 

Indeed!

[Gabriel80]

On 2/18/2024 at 2:57 PM, Slibhin said:

What a ridiculous statement. I don't normally get involved in Trump threads with MAGA cult followers but I couldn't pass this up.

Falsely inflating and deflating asset value is absolutely fraud. That's criminal, not civil, in virtually every industrialized nation I've ever heard of and therefore absolutely the governments job to prosecute regardless of if there's a complaining witness. Saying it's the bank's fault for being scammed is akin to asking a rape victim what she was wearing at the time. Obviously the bank looked the other way and the lack of accountability to banks in the U.S. should hardly be a surprise, considering how poorly regulated they are.

I will put it mildly...

You are speaking falsely... you dont know what you are talking about in this instance.

Stating false values is a investment/ tax issue... not a lending issue.  It is a lending issue if you are a licensed appraiser that keeps pulling in comparable sales that are not really comparable sales (too large of a building, too old sale date, not similar build styles, etc.)

You are letting emotions run wild.  Trump is not worth this.

In my limited knowledge of the case... the inflated values are associated with the loan process... not necessarily with a tax issue or finding investors for a project.  If I am wrong here... please state so.

Now, in this lending scenario this is why you are incorrect to lash out in the manner you did-

 

Let's say I am refinancing (cash out refinance for a re-model) my house... I 'think' the present value is- $1 million.

Let's say the bank just happens to take my word for it (not that they ever would.)

Fast-forward one year... my income goes away because my business had to close due to profitability.

The mortgage goes for 120 days- down to foreclosure.

Now, the bank has to hire a repo company to come in and inspect the property/ maintain it until it is liquidated/ and make any improvements/ repairs before liquidation or short sale.

Also, the bank does a short appraisal or value update... AND it the value comes in @ $750k.

They put it up as a short sale for $610k.  

With repo company fees, collateral value loss, time/ interest loss... the bank is upside down $500k or more at the very least... assuming they get the $610k short sale list price.

Do you see just WHY a financial institution will NEVER take someone's amateur word for value?  Because they can loose their shorts even more than just the interest of the loan or remaining balance.  The collateral HAS to be there.

My estimate of value for real estate and Trump's estimate for real estate value are MEANINGLESS.

Furthermore, if it is the bank fault for accepting "my value" THEN it is the bank role to correct that... not the government's. 

Again, IF a financial institution were to take my word or his word, straight up, for value...  It would be on THEM as far as violations go... certainly wouldnt be my responsibility.  

I could simply walk away with equity I pulled out of the value I quoted them and say- 'Thanks! Suckers!'

Then file a chapter 7 and further take the bank to the cleaners... if I really wanted to be a jerk.

 

Have you ever purchased a home?  If you saw the 500+ page "book" of documents and disclosures... you would reconsider your statement about bank regulation.  

 

Now, I will agree with the lying part... Trump nor another should be doing that... whether that is income or about what they had last night for dinner.